Standard set is:
Rayquaza @ Choice Band
252 Atk / 252 Spd / 4 HP
Adamant/Jolly Nature
- Earthquake
- Extremespeed
- HP Ghost/HP Bug/HP Flying
- Rock Slide/Overheat
I prefer HP bug to get rid of those annoying psychic types such as Deoxys, Latios/Lati@s and Mewtwo although HP flying is standard. Overheat is to get rid of ice types and exeggutor with hp ice. Rock slide is just to get rid of flying fags.
Dragon dance is just cr*p cos rayquaza can't dd up much before being KO'd in ubers. also ice beam being the most common move in pokemon right now, rayquaza wont have a chance to dd up without your opponent switching into a pokemon that know ice beam or hp ice.